Oil Conservation: Theory vs Policy

Paul Davidson

Chapter 32 in Inflation, Open Economies and Resources, 1991, pp 466-469 from Palgrave Macmillan

Abstract: Abstract There are scientific studies which conclusively demonstrate that the current world price of oil ‘has no possible relation to scarcity, present or future, known or feared’ (Adelman, 1976, p. 11). My own studies (Davidson et al., 1974, 1975) have led me to similar conclusions: namely, that neither worldwide nor in the Western Hemisphere is there any foreseeable Malthusian shortage of hydro-carbon sources of energy.

Keywords: Demand Curve; Real Income; Substitution Effect; Post Keynesian Economic; Interregional Income (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/978-1-349-11516-7_32

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